Glencore

Glencore is a company of Courtage out of raw materials, based in Suisse with Zoug, in the Canton of Zoug. It was founded by Marc Rich, a sulfurous American business man condemned to the the United States for violation of Embargo.

In its activities of oil broking, Glencore was an initiator of the mechanism of the oil prefinancings which makes it possible a African country to be involved in debt on its oil incomes to come, often for the benefit of the leaders (see Kleptocratie and Pétrole).

Glencore repurchased and liquidated the French company Metaleurop SA and its subsidiary company Northern Metaleurop.

Scandals

In the Business Oil against food, Glencore was quoted in the report/ratio of Paul Volcker (Rapport Volcker) to have poured occult commissions with Saddam Hussein, the former Iraqi president.

Glencore and Xstrata (company belonging partially to Glencore) have, in Colombia on the site of the coal mines of Cerrejon, shaven of the whole villages and exproprié their inhabitants of force with the complicity of the authorities and the army. The two companies are also in the collimator of the trade union of the minors for corruption and serious violations of the rights of the human being. There is also this dark business of the Indian people Wayùu which were driven out of his ancestral grounds by, amongst other things, a unit of the army usually " employée" by the mine to supervise its installation…

These facts were revealed by a report diffused on the French-speaking Switzerland Télévision on June 29th, 2006.

Glencore is classified 6th european company in 2005.

Fusion with Rusal and Sual

The Russian companies Rusal and Sual create the world number one of aluminum while amalgamating with Glencore.

The Russian aluminum producers Rusal and Sual announced their fusion, to which Glencore brings a great part of its credits, giving rise to the world number one of the sector. It is an historical event, declared the chairman of the board of Sual, Viktor Vekselberg. It specified that the new group thus created would enter out of purse within 18 months.

The potential value of the group is estimated between 25 and 40 billion francs. The Russian billionaire Oleg Deripaska, whose fortune is estimated at 14 billion dollars, will become the principal shareholder of the new company.

The new giant will have a production capacity of more than 4 million tons of primary education aluminum per annum, indicated Mr. Vekselberg. He will thus exceed the current number one of the sector, American Alcoa, who produces 3,6 million tons of aluminum per annum, just like Canadian Alcan.

The creation of this new giant was approved beforehand by Russian president Vladimir Poutine who had encouraged Mr. Vekselberg in this direction when this one had presented the merger plan to him on September 13rd in front of the television cameras.

Before even this merger plan, Rusal, largest of the three companies, had already posted its ambition to become the world number one of aluminum, with a production target of 5 million tons of primary education aluminum in 2013.

The direction of Rusal also indicated that its appetite could touch other metals, as copper or nickel, suggesting a possible transformation of the group into a mining giant diversified of the type of the mining group BHP Billiton.

References

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